What amount will Opus Corp record as Common Stock on May 1, 2020?
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- In 2024, Blossom, Inc. issued 91000 shares of $100 par value convertible preferred stock for $102 per share. Each share of preferred stock can be converted into three shares of Blossom's $25 par value common stock at the option of the preferred stockholder. In August 2025, all of the preferred stock was converted into common stock. The market value of the common stock at the date of the conversion was $30 per share. What amount will be credited to additional paid-in capital from common stock as a result of the conversion? $2457000 O $2275000 O $1456000 O $10920006. Nichols Inc. has the following transactions impacting its equity accounts during 2020. The number of shares of $1 par value common stock authorized is 100, 000, 000 and the number of shares outstanding as of January 1, 2020 is 40,000,000. The company also has 10,000 shares of 5% preferred stock with $100 par value authorized and outstanding at the beginning of the year. The preferred stock may be converted into 10 shares of common stock and was originally issued for $110 per share. Please record the following transactions: Jan 1 - Nichols issues 20,000,000 shares of common stock for $11 per share. May 1 - Repurchases 400,000 shares of common stock for $10 per share. June 1 - Sold 80,000 shares of treasury stock for $12 per share. October 1 - Nichols issues a 50% stock dividend (issued and distributed same day) December 1 - Issued 20,000 shares for land. The market price of the common stock is $13 per share. Prepare the journal entries to record each of the transactions above. What…Sunland Company, has 4170000 shares of common stock outstanding on December 31, 2020. An additional 803000 shares of common stock were issued on April 1, 2021, and 393000 more on July 1, 2021. On October 1, 2021, Sunland issued 19800, $1,000 face value, 8% convertible bonds. Each bond is convertible into 20 shares of common stock. No bonds were converted into common stock in 2021. What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively?
- Dear Bartleby, I would appreciate your assistance in calculating the following question. Also can you please show your calculations, thank you. c. Calculate the common stock dividends per share declared during 2021. (Round your answer to 2 decimal places.) Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash: 2,000,000 shares of no-par common stock were authorized; 750,000 shares were issued on January 1, 2019, at $35 per share.800,000 shares of $100 par value, 7.5% cumulative, preferred stock were authorized; 540,000 shares were issued on January 1, 2019, at $105 per share.No dividends were declared or paid during 2019 or 2020. However, on December 22, 2021, the board of directors of Permabilt Corp. declared dividends of $15,000,000, payable on February 12, 2022, to holders of record as of January 8, 2022.On January 5, 2021, Singer Company sells 15,000 shares of $1 par value stock for $20 per share. They repurchase 1,000 of those shares at $21 per share on November 15, 2021. Then on December 30, 2021 they re-issue 500 shares at $23 per share. What is the effect on Stockholders' Equity of the repurchase of shares on November 15, 2021?Oriole Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Issued 430,000 shares of stock at $6 per share. Sept. 5 Purchased 34,000 shares of treasury stock at $8 per share. Journalize the transactions for Oriole Corporation. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Cash Common Stock Pald-In Capltal In Excess of Stated Value-Common Stock >
- Concord Corporation has 1,000,000 authorized shares of $25 par value common stock. As of June 30, 2020, there were 625,000 shares issued and outstanding. On June 30, 2020, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2020. Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) (c) Debit CreditIn late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2021, 2,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $25 per share.Required:1. Prepare journal entries to record these transactions.2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2021. (Assume net income for the first quarter 2021 was $1,250,000.)On January 1, 2021, Blossom Corporation had 950,000 shares of common stock outstanding. On March 1, the corporation issued 120,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 450,000 of its own outstanding shares and retired them.Compute the weighted average number of shares to be used in computing earnings per share for 2021. Weighted average number of shares
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